Addressing growing concerns over global tariff hikes, Binance CEO Richard Teng warned that protectionist policies are fueling market volatility and could present both short-term challenges and long-term opportunities for cryptocurrencies.
“There has been a lot of discussion recently about increasing tariffs, and I would like to share my views on the current and long-term impacts on the cryptocurrency market,” Teng said in a statement to the public. “The resurgence of protectionism is bringing significant volatility to global markets, and cryptocurrencies are no exception.”
The Binance CEO noted that uncertainty surrounding international trade policy has triggered a typical “risk-off” response among investors. “In the short term, this type of macro uncertainty tends to trigger a risk-off response and investors pull back as they wait to see how growth, politics, and trade develop,” he said.
However, he remained optimistic about crypto’s resilience in the face of economic stress, noting that the long-term outlook could be in favor of digital assets. “This environment could also accelerate interest in crypto as a non-sovereign store of value,” Teng said. “Many long-term investors continue to view Bitcoin and other digital assets as resilient assets during periods of economic stress and changing policy dynamics.”
*This is not investment advice.
